Oak Ridge Investments LLC Sells 23,186 Shares of STERIS plc (NYSE:STE)

Oak Ridge Investments LLC lessened its position in shares of STERIS plc (NYSE:STE) by 89.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,713 shares of the medical equipment provider’s stock after selling 23,186 shares during the quarter. Oak Ridge Investments LLC’s holdings in STERIS were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STE. Ashton Thomas Securities LLC purchased a new position in STERIS in the third quarter worth $25,000. Central Pacific Bank Trust Division purchased a new position in STERIS during the 3rd quarter worth $28,000. Quarry LP acquired a new position in STERIS during the 3rd quarter valued at about $67,000. Asset Dedication LLC raised its stake in STERIS by 54.8% in the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after buying an additional 103 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in STERIS by 45.0% in the second quarter. EverSource Wealth Advisors LLC now owns 583 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Down 0.3 %

Shares of STERIS stock opened at $209.50 on Monday. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The stock has a market cap of $20.68 billion, a PE ratio of 47.83 and a beta of 0.84. The firm has a fifty day moving average price of $212.04 and a 200 day moving average price of $224.82.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $2.03 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that STERIS plc will post 9.1 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, November 19th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Analysts Set New Price Targets

Several brokerages recently commented on STE. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.50.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by insiders.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.